Low speed and high cost of operations on the Ethereum blockchain are linked to mining centralisation. This view was voiced by Block.one chief Brendan Blumer. He added that EOS, which he oversees, has a solution to these problems.
#Ethereum has resulted in slow, costly, high inflation chain, controlled by a 3 pool cartel that refuses to upgrade the scalability of the protocol, while taking billions per year in mining fees as well as $90 per transaction, and selectively reversing transactions (DAO vs DOT)
— Brendan Blumer (@BrendanBlumer) September 5, 2020
“A cartel of three pools refuses to upgrade the protocol’s scalability, taking billions of dollars in fees as well as conducting selective reversals of transactions,” he explained.
According to Blumer, the promised updates to Ethereum resemble those being implemented in EOS. The difference is that in the second-largest cryptocurrency everything is accompanied by endless delays, whereas in EOS updates occur monthly.
#ETH promises upgrades that sound more like #EOS everyday, but with endless delays and no practical path to implementation, while #EOS delivers technological innovation monthly, that is in turn held to a high degree of scrutiny from a talented global community.
— Brendan Blumer (@BrendanBlumer) September 5, 2020
Blumer urged that people rely on the facts and reconsider which is better: EOS or Ethereum.
It’s time we all start dealing with facts to push this industry forward, instead of obfuscating reality to push a narrative of 🧚♂️ ‘s and 🌈’s to distract from the fundamentally better design and future of #EOS over #ETH
— Brendan Blumer (@BrendanBlumer) September 5, 2020
The latest tweet may have referred to his August posts. At that time Blumer forecasted a move of DeFi projects to EOS. He said they would be better deployed on this blockchain due to liquidity, a developer community and the network’s properties.
In late July, EOS network developers announced the publication of an expanded project roadmap.
Earlier, Xangle analytics, based on on-chain activity of Ethereum predicted that the number of new DeFi participants had declined.
Before that, Ethereum developers discussed the problem of the sharp rise in transaction fees and possible solutions. Some experts doubted that it exists at all, given the forthcoming launch of the protocol’s second version.
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